A California man, Craig David Davis, 49, of Venice, has pleaded responsible to wire fraud costs within the Japanese District of Virginia. Davis admitted to defrauding a number of Coronavirus Help, Aid, and Financial Safety (CARES) Act packages, together with the Paycheck Safety Program (PPP) and the Important Road Lending Program (MSLP), of greater than $10 million.
Davis, the proprietor of Brilliant Vanguard LLC, which he falsely introduced as a reliable pc {hardware} retailer and cupboard space supplier, submitted fraudulent mortgage functions below these packages in 2020. In response to courtroom paperwork, Davis falsely claimed that Brilliant Vanguard had substantial gross sales and employed as many as 17 people. In actuality, Brilliant Vanguard had no workers and generated no reliable income. To help his fraudulent claims, Davis offered banks with falsified tax returns, payroll paperwork, and monetary statements.
Along with the CARES Act fraud, Davis additionally confessed to his involvement in a years-long scheme to defraud industrial tools lenders. This scheme concerned directing enterprise homeowners to submit mortgage functions for buying pc tools, supported by invoices from firms like Brilliant Vanguard. After the lenders accredited the loans and disbursed the funds, Davis and his co-conspirators stored a portion of the proceeds whereas remitting the bulk to the debtors. No tools was really offered, regardless of what was proven on the fraudulent invoices. This scheme resulted in over $60 million in fraudulently induced lending throughout greater than 350 separate loans.
Davis is scheduled for sentencing on December 12, 2024. He faces a most penalty of 20 years in jail. The ultimate sentence shall be decided by a federal district courtroom choose, who will contemplate the U.S. Sentencing Tips and different statutory components.
The announcement of Davis’s responsible plea was made by Principal Deputy Assistant Lawyer Basic Nicole M. Argentieri, head of the Justice Division’s Felony Division, and U.S. Lawyer Jessica D. Aber for the Japanese District of Virginia. The investigation was led by the Federal Deposit Insurance coverage Company Workplace of Inspector Basic (FDIC OIG) Mid-Atlantic Area, the Division of the Treasury’s Particular Inspector Basic for Pandemic Restoration, and IRS Felony Investigation (IRS-CI).
The case is being prosecuted by Trial Lawyer David A. Peters of the Felony Division’s Fraud Part, together with Assistant U.S. Attorneys Drew Bradylyons and Katherine Robeson for the Japanese District of Virginia, with substantial help from the U.S. Lawyer’s Workplace for the District of Maryland.
